Vanguard Group Inc. Trims Stock Position in The Chefs' Warehouse, Inc. $CHEF

Key Points

• Vanguard Group Inc. reduced its stake in The Chefs' Warehouse, Inc. by 0.3%, holding approximately 2,679,202 shares valued at around $145.9 million as of the latest SEC filing.
• Chefs' Warehouse reported an earnings per share of $0.52, exceeding analysts' expectations of $0.45, and achieved quarterly revenue of $1.03 billion, up 8.4% from the previous year.
• Analysts have generally maintained a positive outlook, with six analysts rating the stock as a buy and a raised consensus price target of $70.40.

Vanguard Group Inc. lessened its holdings in shares of The Chefs' Warehouse, Inc. (NASDAQ:CHEF - Free Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,679,202 shares of the company's stock after selling 7,947 shares during the quarter. Vanguard Group Inc. owned about 6.59% of Chefs' Warehouse worth $145,909,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CHEF. Principal Financial Group Inc. increased its stake in Chefs' Warehouse by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 192,764 shares of the company's stock worth $10,498,000 after purchasing an additional 9,142 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of Chefs' Warehouse by 103.1% during the first quarter. Harvest Fund Management Co. Ltd now owns 19,075 shares of the company's stock valued at $1,038,000 after purchasing an additional 9,684 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Chefs' Warehouse by 196.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 30,816 shares of the company's stock worth $1,678,000 after acquiring an additional 20,404 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Chefs' Warehouse in the first quarter worth $289,000. Finally, GAMMA Investing LLC boosted its holdings in Chefs' Warehouse by 27.9% in the first quarter. GAMMA Investing LLC now owns 1,537 shares of the company's stock worth $84,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 91.55% of the company's stock.

Insiders Place Their Bets

In related news, CAO Tim Mccauley sold 17,500 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $65.07, for a total value of $1,138,725.00. Following the completion of the sale, the chief accounting officer directly owned 52,050 shares of the company's stock, valued at $3,386,893.50. The trade was a 25.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group upped their price objective on Chefs' Warehouse from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen cut Chefs' Warehouse from a "buy" rating to a "hold" rating in a report on Saturday. BTIG Research reaffirmed a "buy" rating on shares of Chefs' Warehouse in a research report on Friday, May 23rd. Finally, Benchmark boosted their price target on Chefs' Warehouse from $68.00 to $79.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Chefs' Warehouse presently has a consensus rating of "Buy" and an average target price of $70.40.

Chefs' Warehouse Price Performance

Shares of CHEF stock traded down $2.04 during mid-day trading on Tuesday, hitting $63.09. 353,203 shares of the stock were exchanged, compared to its average volume of 531,649. The firm has a fifty day moving average of $63.75 and a 200 day moving average of $60.22. The company has a quick ratio of 1.17, a current ratio of 2.01 and a debt-to-equity ratio of 1.24. The Chefs' Warehouse, Inc. has a 52-week low of $37.72 and a 52-week high of $68.94. The company has a market cap of $2.57 billion, a PE ratio of 39.43 and a beta of 1.83.

Chefs' Warehouse (NASDAQ:CHEF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. Chefs' Warehouse had a net margin of 1.76% and a return on equity of 13.60%. Chefs' Warehouse's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. Chefs' Warehouse has set its FY 2025 guidance at EPS. Research analysts anticipate that The Chefs' Warehouse, Inc. will post 1.73 earnings per share for the current year.

About Chefs' Warehouse

The Chefs' Warehouse, Inc, together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. The company's product portfolio includes specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products; and center-of-the-plate products consisting of custom cut beef, seafood, and hormone-free poultry, as well as broadline food products comprising cooking oils, butter, eggs, milk, and flour.